Commerce Exam Past Questions and Answers | JAMB, WAEC and NECO

Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.

• Question 51: The characteristics which ensures that money is free from forgery is its? Options:
  A) legality
  B) durability
  C) recongnition
  D) credibility
  Show Answer
  The correct answer is A .
• Question 52:

  Which of the following is not a function of a consumer association?

  Options:
  A) Ensuring that consumers buy quality goods
  B) Educating consumers on their rights
  C) Penalizing importers of fake goods
  D) Ensuring that fair prices are charged
  Show Answer
  The correct answer is B .
• Question 53: One of the disadvantages of a sole proprietorship is? Options:
  A) secrecy of annual reports
  B) pride of ownership
  C) limited liability
  D) unlimited liability
  Show Answer
  The correct answer is D .
• Question 54: Risk bearing in business organisation is a function of the _____ Options:
  A) employees
  B) customers
  C) entrepreneur
  D) manager
  Show Answer
  The correct answer is C .
• Question 55: The limit of functions, activities and personnel that a supervisor can effectively manage in a business organization is? Options:
  A) span of control
  B) delegation of authority
  C) chain of command
  D) authority and rsesponsibility
  Show Answer
  The correct answer is C .
• Question 56: The balance of payments of countries is Options:
  A) a record of imports and export
  B) a systematic record of transaction among countries at a given time
  C) the current and the capital accounts and their payments
  D) the trade relationships and payment among nations
  Show Answer
  The correct answer is A .
• Question 57: The variety of goods and services which a company offers for sale is its? Options:
  A) place mix
  B) promotion mix
  C) price mix
  D) product mix
  Show Answer
  The correct answer is D .
• Question 58: A cheque drawn by a bank official on the bank’s deposit in another bank on a customer’s deposit in another bank Options:
  A) Bank draft
  B) Bankers’ order
  C) Promissory note
  D) Travelers cheque
  Show Answer
  The correct answer is B .
• Question 59: The placement of workers based on their qualifications can be categorized under Options:
  A) public sector
  B) skilled labour
  C) private sector
  D) unskilled labour
  Show Answer
  The correct answer is B .
• Question 60: The sum of money paid by a policy-holder to an insurer is referred to as? Options:
  A) interest
  B) premium
  C) gross profit
  D) sales revenue
  Show Answer
  The correct answer is B .